Bangkok--25 May--Aziam Burson-Marsteller
Mitr Lao Sugar Co., Ltd., a part of the Mitr Phol Group, which produces and sells sugar under the Mitr Lao brand, today loaded and shipped its first lot of premium raw sugar to the European Union (EU). The company has been able to realize a 70% increase in cane yields to supply to its mill in the 2009/2010 production year.
According to Mr. Buntoeng Vongkusolkit, Group Managing Director - ASEAN Business, Mitr Phol Group, “In the 2008/2009 production year, Mitr Lao has a total of crushing volume of 230,000 tons, which generates a total of 23,150 tons of sugar. Of the total sugar output, 22,940 tons are exported to the EU under a contract with Tate & Lyle, the world’s leading sugar trading firm. The shipment of the Mitr Lao sugar is organized by United Standard Terminal Plc which conveys the sugar from the Lao People’s Democratic Republic (LPDR) to the Laem Chabang port and forwards it to the Aaw Thai Terminal for export to the EU. The shipment will take approximately 40 days to London, England. The remaining Mitr Lao sugar output is expected to be distributed in Laos in the third quarter of this year.”
Currently, Mitr Lao has broadened its sugarcane plantation sites to Outhomphone in Savannakhet province and Xebangfai in Khammouan province. In the 2008/2009 production year, Mitr Lao Sugar utilized a sugarcane plantation area of 40,000 rai. In the 2009/2010 production year, the company will apply for a concession for an additional sugarcane plantation area of 62,500 rai to expand its production capacity to 450,000 tons of sugar cane or 5,000 tons of sugar per day, which will generate approximately 50,000 tons of raw sugar per year.
“Based on the results of our cane yields in the 2008/2009 production year, we are committed to encouraging communities around our facility to plant cane more effectively in order to generate higher yields per rai and increasing the CCS value of the cane they grow. We will also increase the cane plantation area to meet our expanded future production capacity. This will form a solid foundation for Mitr Phol Group’s operations in the LPDR. We expect that with the efficient production promotion, the number of contracted cane farmers will grow by over 300 from our current 500,” concluded Mr. Buntoeng.
With a registered capital of US$ 20 million or approximately 730 million baht, Mitr Lao Sugar has been granted a 40-year concession for sugarcane plantation and sugar mill construction on the 62,500 rai land plot in Savannakhet province, Lao People’s Democratic Republic since February 2006. The company is eligible to extend its concession right for another 20 years. Its initial investment is US$ 63 million or about 2.3 billion baht.
Photo shows the ceremony marketing the inaugural shipment of Mitr Lao sugar from Laem Chabang Port (A4) to the EU. People in this photo: H.E. Mr. Ouan Phommachack (4th from left), Ambassador Extraordinary and Plenipotentiary and Permanent Representative to ESCAP, Mr.Prachuab Chaiyasarn (5th from left) and Mr. Buntoeng Vongkusolkit (3rd from left), Group Managing Director - ASEAN Business,
Mitr Phol Group.
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